In the result, appeal filed by the assessee is dismissed

Bench: Shri Aby T Varkey & Shri Gagan Goyalhemal Maganlal Shah 84, 4Th Floor, Pankaj-B, Lbs Road, Ghatkopar (W), Mumbai-400086. Pan: Amfps8271G ...... Appellant Vs. The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Mumbai. ..... Respondent Appellant By : Sh. H.M. Shah Respondent By : Sh. Prasoon Kabra Date Of Hearing : 17/05/2022 Date Of Pronouncement : 10/08/2022 Order Per Gagan Goyal, A.M:

bogus bills to the traders to accommodate their unaccounted purchases from grey market. Assessee nowhere challenged the action of the Revenue about disallowance of 12.5% in principle, he only challenged in terms of percentage to be disallowed. 7. The nature of disallowance in the instant case clearly establishes the concealment of income and furnishing inaccurate particulars of income. Section